Just as monetary policymakers couldn’t appear to be more hypocritical by singling out the emerging cryptocurrency industry for being too loosey-goosey, fate has stepped in. When things seemingly couldn’t get any worse for Deutsche Bank, the Wall Street firm is now troubleshooting a possible security breach involving sensitive client information, according to a report in the Financial Times. It’s reminiscent of Facebook’s data security issues, with the common theme being that these companies had nothing to do with crypto at the time of these failures. In fact, crypto will no doubt appear even more attractive to Deutsche clients who can no longer trust the banks.
.@KeiserReport has been on top of this story for 5 yrs, reporting on $DB’s fraudulent behavior and accounting farce.
— Max Keiser, tweet poet. (@maxkeiser) July 28, 2019
Crypto Never Shuts Down
After shuttering its equities division in recent weeks, not to mention thousands of jobs across New York and London, Deutsche Bank’s IT department apparently forgot to shut down the email accounts of those individuals who were affected.
Dozens of disgruntled laid-off employees could still access their accounts even after being terminated from the company, as per the FT. One fired trader in particular reportedly sent more than 400 emails in the wake of the incident, the details of which are unclear. While access to those accounts has since been removed, the damage appears to already be done, exacerbating an already precarious situation for the German bank whose reputation has already been tarnished among clients.